If you value our commitment to the highest standards of responsible journalism and are able to do so, please consider making your gift of support today. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Gas is a very protected and treasured resource within the Texas economy and the Texas politics, so you have to pick your battles, Cramton said. August 8, 2022 Executive Employment Agreement. Dr. Tamby has a bachelors degree in electrical engineering from Anna University in India, and masters and doctorate degrees in electrical engineering from Queens University in Canada. Brad Jones Summary Overview CB Rank (Person) 23,869 Primary Job Title Senior Vice President and Chief Operations Officer Primary Organization ERCOT Gender The Texas Legislature is considering bills to allow ERCOT to securitize the IOUs, and Jones acknowledged that could put the grid operator in the unusual position of issuing bonds. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 4:49 PM Mar 11, 2021 CST, Three weeks after the the state's power grid failed leaving millions of Texans without power amid freezing temperatures, the Public Utility Commission of Texas named Adrianne Brandt as the agency's new director of ERCOT accountability in a news release March 11. Below the Waterlines: Houston After Hurricane Harvey, This story originally appeared on Texas Public Radio, A plan to overhaul the Texas grid has set up a showdown at the state Capitol, State regulators approve controversial Texas electricity market reform, State agency that oversees Texas power grid needs more money to do its job, Sunset Commission finds, Decembers freeze highlighted ongoing weaknesses of Texas power grid, even without widespread blackouts, Santa Fe High School shooter remains mentally incompetent to stand trial, further dragging on 5-year-old case, Santa Fe shooting survivor Trey Louis tugs at judges heartstrings on American Idol, Houston remains one of the most affordable big cities in the U.S., even if it no longer feels like it, Bun B announces part of RodeoHouston Southern Takeover lineup, DPS sent at least 3,000 drivers licenses to organized crime group targeting Asian Texans, As Texas STAAR test goes fully online, teachers feel defeated, Texas Education Agency projects confidence, No accountability: Kids in special education are routinely restrained. We manage the flow of electric power to more than 26 million Texas customers -- representing 90 percent of the state's Bill Magness, chief executive officer of the Texas power grid operator, will leave his post in the wake of the February energy crisis that left millions of people in the state without electricity and heat for days. Brad Jones is an Interim President & Chief Executive Officer at Ercot based in Taylor, Texas. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Unfortunately, he said, ERCOTs push for affordability over reliability finally caught up to it in February 2021. Categories Creating the original set of protocols that everyone could live with was surely good training for updating those protocols now. Jones, who worked for Texas energy companies and in senior roles at ERCOT before leading New York states power grid operator as president, takes TPR was founded by and is supported by our community. Send a letter to the editor and you just might get published. Prior to CI, Hannah served as associate editor of The Houstonian, interned with Community Impact Newspaper and spent time writing for the Sam Houston State University College of Fine Arts and Mass Communication and The Huntsville Item. The ERCOT board is deciding which of eight executive search firms that submitted proposals will handle the search for the permanent replacement, the organization said in a release. Mr. Black holds a bachelors degree from the University of Texas at San Antonio. We're in the process of transitioning services for our Today in Houston newsletter. Texas lawmakers could change that, Heres everything you need to know about school vouchers in Texas, Texas Education Agency denies reapproval for Houston special education school Avondale House, adding strain to underfunded system. | This article was originally published byFort Worth Report. Vice President and Chief Financial Officer. Ercots chair and four other directors resigned Feb. 23, while two other board members resigned in the following days. Earlier this month, ERCOT reported more than 300 inspections of power generating facilities, which take natural gas supply and other power sources and turn it into electricity for the grid. Jones did not address the litigation during the town hall. Jones will serve beginning May 4. Brad Jones, UT Arlington alumnus, will be working on ERCOT accountability at the Public Utility Commission of Texas, The Texas Energy Report, KVUE ABC 24 and And that should give Texans hope that they wont have to spend the summer digging survival bunkers and stocking up on batteries and trail mix. Dominic Anthony Walsh covers education & families for Houston Public Media's enterprise team. Mr. Black began his career in 1990 as a legislative assistant for Representative Tom Craddick in the Texas House of Representatives and later worked for two Texas State Senators. March 11, 2021 / 3:16 PM / CBS DFW. His work examines the institutions and policies affecting millions of students and families across Texas, with a focus on Houston home to the largest school district in the state. The board gave Bill Magness a 60-day termination notice at the beginning of March. Mr. Rickerson is responsible for guiding new, in-depth generation inspections and coordinating enforcement actions with the Public Utility Commission. Ms. Day joined ERCOT in 2000 and has more than 30 years of experience in the electric power industry. Houston Public Media is supported with your gifts to the Houston Public Media Foundation and is licensed to the University of Houston. More than 4 million Texas homes and businesses were without power over several days of bitter cold. Tags electricity grid ercot Texas Legislature Texas power grid winter freeze. The Electric Reliability Council of Texas Board of Directors has selected Brad Jones to serve as interim president and CEO for the organization that manages the Texas power grid. I expect for that plan to be very specific and very aggressive, he said. RELATED: Death toll from Texas winter storms rises once more to 125 people, D-FW victims now total 12. Senior Vice President, General Counsel and Corporate Secretary. Andrew Cuomo set out an ambitious goal to shift power generation in the state to 50% renewable by 2030. 05:24. And theres another point on Jones rsum that should give Texans confidence in him. Im not sure being connected to a bigger grid would actually have less chance of causing a problem, Capriglione said. "Over the next few weeks, I will be meeting with ERCOT staff, elected officials and leaders of various state agencies and developing a 100-day strategic plan to present to state officials and the public. Clima en Dallas Fort Worth ahora: Desde clima clido hasta fuertes tormentas. ERCOT and the Public Utility Commission of Texas, the regulator which oversees the grid operator, raised power prices to about 400 times the normal rate over five days. Once a saver, always a saver: Warren Buffett says generational wealth isnt what it used to be in his annual letter Its bigger than the housing crisis: An influential economist just blamed NIMBYs for American decline, and Elon Musk CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Third is better dialogue on needed technical changes in the power market and ERCOT. Kenan gelman isERCOTs Vice President of Commercial Operations, overseeing Market Operations, Settlement and Retail Operations, and Market Design and Development. Brad Jones of Liberty Hill is the Interim CEO of ERCOT. If past experience is any indication of future performance, he will. He also served as the president and CEO of the New York Independent System Operator from October 2015 to October 2018. Brad Jones, ERCOT's interim CEO, in a statement said he "welcomes these highly qualified leaders, their expertise and insights into our relentless pursuit of grid reliability." Jones has also ERCOT doesnt have the power to mandate major changes. Lake and interim ERCOT CEO Brad Jones have been routinely describing the procurement of massive amounts of reserve capacity, even when they arent needed, as conservative. (now worth $600-$800 million per year) to storage that can sustain for 4 hours. They were basically from the industry and had to determine at certain points: Do I do whats best for ERCOT or, you know, where Im getting a paycheck?. The Chief Audit Executive who manages the Internal Audit department administratively reports to Mr. Seely. Why would a CEO in his 50s retire? Resources like these are made possible by the generosity of our community of donors, foundations, and corporate partners. Ms. Spak has more than 15 years of extensive experience in human resources at diverse corporate entities. Prior to joining ERCOT, he served as Vice President of External Affairs for AEP Texas. The grid operators usual approach to handling unsettled market transactions is for all participants to pay fees to cover the costs, up to $2.5 million per month. Brad Jones will fill the role in an interim capacity in early May. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. He will lead the grid operator past the February outage crisis and into the crucial summer months at a time when the economy is reawakening and more people are moving to Texas, bumping up demand for electricity. Mr. Parakkuth has a masters degree in power systems and power electronics from the Indian Institute of Technology Bombay, and an MBA in information systems and finance from the University of Minnesota. The Commission named Adrianne Brandt director of ERCOT Inc. accountability, and former ERCOT COO Brad Jones will assist her in a consultant role, the PUC said March 11. Second, he plans to improve communication. Robert Black joined ERCOT as Vice President of Public Affairs in November 2022 with more than three decades of political and government experience. The effect of being connected to another power grid would have been negligible during the storm, Jones said, because power supplies from the far east would have been consumed by states around Texas also experiencing electricity issues before it reached Texans. You could change us.. Sean Taylor was named Vice President and Chief Financial Officer in October 2019 after serving as ERCOTs Controller since joining the company in February 2013. He is currently responsible for the strategic vision, planning, and leadership of the Finance, Human Resources, Enterprise Architecture, Market Rules and Stakeholder Support, Project Management, Strategic Planning, Enterprise Risk Management, Portfolio Management, and Business Continuity functions. In March 2019, she transitioned to editor of the Spring/Klein edition and later became the editor of both the Spring/Klein and Lake Houston/Humble/Kingwood editions in June 2021. In an effort to rebuild trust following the near-collapse of Texas power grid during last Februarys winter storm, Jones has traveled across the state to hold listening sessions everywhere from Odessa to Frisco. Jones was formerly a top executive at ERCOT before leaving to head up the grid operator in New York. Join others and make your gift to Houston Public Media today. He also leads advancements in generation and transmission planning to help meet long-term forecasting needs and ensures that the latest grid and technology changes are incorporated into models used by ERCOT for analysis. Ms. Spak graduated from Southwestern University with a BA in psychology. WebAs of 2022, Brad Joness net worth is $100,000 - $1M. April 27 (Reuters) - Brad Jones has been elected interim president and chief executive officer of the Texas grid operator ERCOT, its board said on Tuesday, filling the Her position is supported by a grant fromthe Marilyn Brachman Hoffman Foundation. By, How the ongoing drought impacts the Hill Country, Gulf of Mexico warming at faster rate than global ocean, study finds, Bills make their way to committees at the Capitol this week, the first step toward possible passage, Why hurricanes feel like they're getting more frequent. See here for a complete list of exchanges and delays. The Electric Reliability Council of Texas' board of directors on Tuesday appointed Brad Jones as interim president and CEO. Too bad for New York, because a grid executive who can tether political ambitions to physical reality is an asset. Updated Jones should listen to a range of voices on improving reliability. Jones comes on board at a time of intense scrutiny for the grid operator, following the February winter storm and power outages that affected the entire state. He acknowledged that the matter of $3 billion in unpaid bills for power market trades will need to be settled. The agency is also focusing on improving its communications so that customers get a single message and not four or five messages that are conflicting from their energy provider and the state, he said. Prior to joining ERCOT, he served as Principal Key Expert for Grid Control at Siemens Digital Grid, specializing in delivering high-risk, complex projects working with both the product and delivery organization at Siemens. 1996-2023 Electric Reliability Council of Texas, Inc. All rights reserved. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Jones was once Ercots chief operating officer, and is a Texan. That means Texas had no way of bringing in more electricity when the states power generators couldnt produce enough power to meet demand last February. FORTUNE may receive compensation for some links to products and services on this website. Your subscription will be migrated over. A licensed professional engineer, Mr. Rickerson has worked for utilities in Texas, Arizona, and New Mexico. Jones served as ERCOT vice president of commercial operations from April 2013 to December 2014 and as senior vice president and chief operating officer from January 2015 to October 2015, the statement said. There will be times that we need to speak frankly at ERCOT about what needs to occur to preserve reliability.. He wasnt ready to say if he is leaning to one idea or another. The new ERCOT CEO wants to rebuild your trust in the Texas electricity grid Brad Jones expects to present a 100-day plan within a month. Jones defended the design of Texas electricity market and power grid. In addition, Mr. Seely is responsible for the leadership of the Compliance, Cyber Security, Physical Security, Facilities and Information Governance departments. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Brad Jones, Ercots interim chief executive officer, is aware hes walking a fine line. He has over 35 years of experience in the electric energy industry. See here for a complete list of exchanges and delays. ERCOT Verified account @ERCOT_ISO. Iconic German restaurant in Fort Worth closing doors after 56 years, Enough | Black MENtal Health: Shedding light on asking for help, finding community and resources, Thunderstorms develop in North Texas: Latest radar, timeline here. Texas Governor Greg Abbott had called for board members and other leaders to step down in the wake of the crisis. The industry leader for online information for tax, accounting and finance professionals. Other companies went bankrupt and continue to struggle because their power plants shut down because of the low temperatures, he added. Read more about our editorial independence policyhere. 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